Dismissing the appeal of the revenue, the Tribunal held that ; When entire capital gain is invested in a flat under construction exemption cannot be denied on the ground that possession was not given . S.54(2) does not specify any condition that. (AY. 2013-14)
ACIT v.M. Raghuraman ( 2018) 169 ITD 315 ( Chennai) ( Trib)
S. 54 : Capital gains – Profit on sale of property used for residence-When entire capital gain is invested in a flat under construction , exemption cannot be denied on the ground that possession was not given [ S.45 ]